Sindh signs accord in energy, oil, gas sector

KARACHI: In emergence of a multi-polar world and changing power configurations world-wide including in South Asian region, Pakistan’s close association with Russia is very important and socio-economic cooperation between both countries would bring prosperity to entire South Asian region.

Sindh Chief Minister, Murad Ali Shah said this while talking to a high-power delegation of Saint Petersburg, Russia led by its Vice Governor, Sergej N. Movchan.

The delegation comprises leading companies from St Petersburg in energy, oil and gas, textile and fashion industry, light industry, pharmaceuticals and other sectors. The objective is to create business linkages to enhance bilateral trade leading to meaningful cooperation.

Murad said that current phase between two countries was promising and very encouraging. There have been frequent high-level visits over past few years and interaction between the two-sides.

This is also 70th anniversary of diplomatic relationship between Pakistan and Russian Federation.

Sergej Movchan along with his team is visiting Karachi from April 24-26 as part of strengthening relationship between province of Sindh and St. Petersburg Russia

Murad and Sergej Movchan signed memorandum of understanding for further cooperation in education, energy, oil, and gas, textile, water filtration and pharmaceutical sectors.

Earlier Sindh Board of Investment has hosted a meeting of Petersburg Business Forum with local business people to instigate partnerships.

Russia is currently involved in many energy projects in Pakistan and is fully committed to help Pakistan in alleviating its energy crisis. Russia is the world’s largest producer of oil and gas and Pakistan welcomes Russian investment in the energy sector.

The expertise of Russia’s oil company like Rosneft and Gazprom Gas Company has contributed significantly in developing Pakistan’s oil and gas potential.

The chief minister said that trade links have existed historically between two countries, but volume of trade needs to be increased so that both countries could reap more benefits from it. Pakistan exported goods worth $131.68 million in 2017 as against exports of $151.41 million in 2016. This shows a decline of 13 percent.